Loading ...Paulson & Co. will move forward with its efforts to replace a majority of the Detour Gold’s board and explore the possible sale of company.
In a letter release today, Paulson also said Detour had been “approached by a major gold mining company interested in potentially acquiring it.”
Detour Gold is up 13% to $13.93. The company’s 52-week range is $9.11 to $17.86. Paulson & Co. is a large institutional investor in Detour.
In a sharply worded news release, Detour Gold said Paulon & Co.’s claims were misleading and it doesn’t want to be forced into an “ill-timed fire sale”.
“Paulson, in a desperate attempt to resuscitate its flailing reputation in the mining industry, has once again misinformed the investment community,” wrote the company.
cont. http://www.mining.com/paulson-plans-replace-detour-board-explore-sale-company/